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Hi there! Welcome back.

We see that you began the process of guaranteeing your family a future that they dream of by choosing the PNB MetLife Mera Term Plan. You don’t have to share all the information with us again. Simply enter your Mobile number and Password so you can continue from where you left.

Payout as Lump Sum+ Regular Monthly Income till child turns 21

1 Illustration for a 28 year old non-smoking Male for a 40 year term. 2 Child’s age at the time of claim is assumed as 6 years.

Why our Term Plan?

Life is unpredictable. To protect your family against future uncertainties and to ensure that their dreams are secured, even when you are not there, we recommend the PNB MetLife Mera Term Plan. You can customize this online term plan to suit your family’s needs and give them the protection they truly deserve.

Here’s why you should choose our plan:

Let your child’s dreams soar

We know your child is your greatest wealth and fulfilling his future dreams, your greatest joy. PNB MetLife Mera Term Plan, helps your child’s dreams soar in the midst of the uncertainties of the future.

Cover your partner, hassle-free

In the same policy, you can cover your partner too. This unique benefit ensures that life cover for your better half continues even when you aren’t there. All future premiums for your partner’s cover will be waived off.

Increasing Monthly Income for your family

Secure your family’s monthly expenses and protect them from the effects of inflation, so that they don’t have to compromise on their standard of living.

Flexibility to increase life cover

As you move through different stages of life such as marriage, welcoming a baby in the family and more, you will have the option to increase your life cover without any medical examination, through our life stage protection benefit.

Coverage till the age of 99#

This plan offers coverage till the age of 99# years.

Affordable and easy on the pocket.

Whatever option you opt for, high costs don’t come in the way of protecting your family’s dreams and expenses.

Tax savings

Avail benefit on income tax, under section 80C for your annual premium.

Why PNB MetLife?

PNB MetLife brings together the expertise of MetLife Inc., a leading global life insurance company, and the credibility and reliability of Punjab National Bank, one of India's oldest and leading nationalized banks. Our vast distribution reach combined with global insurance expertise and product range makes us a strong and trusted name in the insurance market of India.

Serving more than 100+ million people for 147+ years

Founded in 1868, MetLife has served approximately 100 million customers globally. PNB, founded in 1895, is a banking giant and has always been a people's bank. PNB Metlife has been present in India since 2001.

Over 342,017 Crores worth of lives Covered3

We have given protection and assured coverage for lives amounting to more than 354,693 crores in India.
3 Total Base Sum Assured for Group & Individual policies as on June 30, 2017

Strong Branch Network
7000+

PNB MetLife is present in over 111 locations across the country and serves customers in more than 7,000 locations through its bank partnerships.

Consistent and Profitable Company

Among the few profitable life insurance companies operating in India, consistently profitable for the last 7 Financial Years44 Public disclosures on company website

Your Questions, Answered

What is term plan?

What is term plan?

Term Plans are pure insurance plans where your life is covered at a very low cost and in case of a mishap, your nominees get the payout.

What benefits will I receive with a term plan?

What benefits will I receive with a term plan?

The family’s safety and security is of utmost importance to you. We understand that. In a term plan, policy benefits are given to the nominees chosen by the life assured in case of an insured event.PNB MetLife Mera Term Plan offers four benefit payout options to ensure that your family is secured financially as you would always like them to be.

What is an ideal insurance cover?

What is an ideal insurance cover?

Having an ideal insurance cover is always a good idea. As a thumb rule, a pure term should be bought in the range of 10-25 times the annual income of the life insured. This helps negate unforeseen liabilities and future inflation.

When is the right time to buy insurance?

When is the right time to buy insurance?

While most people do realise the importance of buying life insurance, many are unsure when to buy one. With increasing age, cost of insurance increases. Hence, it is a good time to invest in one at a young age, maybe with savings your first earnings.

What steps need to be followed for a hassle- free claim settlement?

What steps need to be followed for a hassle- free claim settlement?

Full disclosure for the information requested at the time of proposal form. Submission of the information and claim documents as required. Refer to the our website or speak to our representative to ensure you have the correct documentation

For how long am I supposed to pay the premium?

For how long am I supposed to pay the premium?

Similar to all Regular Premium plans, you will have to pay the premium for the entire policy opted by you for protection. It’s always good to stay protected in the long run.

I have a company cover; do I still need a term plan?

I have a company cover; do I still need a term plan?

Cover provided by your employers is always based on your hierarchy in the company is usually limited to 2-3 times of the cost to the company. When you change jobs or start a company of your own as a consultant you will automatically lose the cover and insurance. A period without insurance is a scary proposition and keeps you and the family at risk.

Till when do you need to cover? What should be an ideal policy term?

Till when do you need to cover? What should be an ideal policy term?

You should look at the maximum duration available to you and lock in a low premium by taking this policy as early as possible.

Do I need to do anything else after making the payment?

Do I need to do anything else after making the payment?

You simply have to complete the verification call that may be made to you by PNB MetLife and send in your documents.

Will I have to undergo a medical test?

Will I have to undergo a medical test?

Depending on the sum assured that you opt for, you may require to undergo some medical tests. The medical tests are conducted at your home as per your convenience & availability. For some tests you may need to visit a diagnostic centre nearby

What medical tests will I go through before getting the policy issued?

What medical tests will I go through before getting the policy issued?

Standard KYC documents, proof of income & any specific documents requested by the company.

How much time will be taken for processing after you get my documents?

How much time will be taken for processing after you get my documents?

Once we receive all documents and premium payment as per underwriting requirements, your policy will be processed within 48 hours.

From when does my policy start?

From when does my policy start?

Your policy starts from the day your documents are processed and the risk is accepted by the company.

I already have a term plan, can I buy an additional one?

I already have a term plan, can I buy an additional one?

Yes, you can. An additional cover can be opted for but is subject to your financial eligibility.

How can my family make a claim after my death? What is your claim settlement process?

How can my family make a claim after my death? What is your claim settlement process?

Our claim process is fast & simple. You simply intimate our claims team and submit all relevant documents. Our team will get it touch with you and help you towards a speedier claim settlement.

How much amount will my nominee get at the time of claim?

How much amount will my nominee get at the time of claim?

Death sum assured is defined as higher of 10 times the additional premium or 105% of all additional premiums paid for as on the date of death or Sum Assured chosen at the time of buying this plan. If, you have also opted for rider benefits then that would be paid as per the policy plan. If you have opted for any of the monthly income benefit options, then pay-out will be done accordingly.

How much time will my claim take?

How much time will my claim take?

After we receive all the required information & documents as required for claim processing, we will hand over the cheque personally or electronically transfer the amount in your nominee’s bank account.

What is the claim settlement ratio of PNB MetLife?

What is the claim settlement ratio of PNB MetLife?

We have one of the best claim settlement ratios in the industry and we pride ourselves on our customer first approach. For FY 2013-14, our claim settlement ratio was 95%.

Does a term plan provide tax benefits?

Does a term plan provide tax benefits?

A term insurance policy provides you tax benefits under section 80C & 10(10D) of the Income Tax Act.

What is the ideal age to get term plan?

What is the ideal age to get term plan?

No matter how old you are it is always good to invest in a term plan. However you need to be 18 years old to start & 65 years at the maximum to be eligible for a term plan.

Are the premiums of online and offline term insurances different?

Are the premiums of online and offline term insurances different?

The premium is factored based on various parameters like mortality rates, cost of medical tests and marketing costs. The premium for the online plan will be comparatively lesser than offline plans.

What happens to this plan if I go abroad and settle?

What happens to this plan if I go abroad and settle?

You can continue to pay the premium on the policy and the plan continues to protect you.

Can an NRI buy this plan?

Can an NRI buy this plan?

Yes, an NRI can apply for this plan subject to underwriting policy of the company.

What is the maximum entry age to buy a term plan?

What is the maximum entry age to buy a term plan?

The maximum age at which you can buy a term plan is 65 years.

What is the maximum term to which I can get term insurance cover

What is the maximum term to which I can get term insurance cover

The maximum time for an insurance term plan is 40 years.

What is the minimum policy term?

What is the minimum policy term?

The minimum policy term is 10 years.

What is the maximum policy term?

What is the maximum policy term?

The maximum policy term is 40 years.

What are the different terms of premium payment?

What are the different terms of premium payment?

You can avail either a monthly or yearly premium payment method.

Where can I make the payment and how?

Where can I make the payment and how?

You can make the payment through your debit/credit card or through net banking.

Will my policy lapse if I miss to pay a premium or if there is a delay in payment?

Will my policy lapse if I miss to pay a premium or if there is a delay in payment?

No, the policy will not immediately lapse if you fail/forget to pay a premium. A grace period will be extended to the policy holder in order to make a premium payment.

What happens if I fail to make the premium payment?

What happens if I fail to make the premium payment?

The insurance policy will provide a ‘grace period’ which will give the policy holder additional time after the due date to make the premium payment. During the ‘grace period’ you can make the payment and the plan continues. For an annual payment model the grace period is 30 days after due date. If you do not make the payment the policy lapses and you can revive the plan under certain conditions. You may have to declare your health at the time of renewal of plan.

Can I renew the policy once it’s lapsed? What is the grace period?

Can I renew the policy once it’s lapsed? What is the grace period?

When your insurance policy plan has lapsed, you may revive or reinstate it to full force within a period of time and under certain conditions such as declaration of your state of health at the time of reinstatement. Please refer to the brochure/policy bond for further clarifications.

What is the procedure to renew the policy?

What is the procedure to renew the policy?

You will be receiving renewal communication on payment of premium for renewal. You can opt for the various methods suggested to make the payment & ensure continuity in the coverage.

Will my premium amount remain the same in case of renewal or I will be charged some interest?

Will my premium amount remain the same in case of renewal or I will be charged some interest?

Your Premium amount remains unchanged over the entire policy term.

Can I increase/decrease the insurance cover midway?

Can I increase/decrease the insurance cover midway?

You can add additional protection and also add life stage protection according to the stage of life you are in. You cannot decrease insurance cover.

I already have a life insurance policy do I need a term plan?

I already have a life insurance policy do I need a term plan?

Yes, as both the policies serve different purpose. Life Insurance is like an investment plan whereas in term insurance you can safeguard your family with a big claim amount at a very small premium amount.

Will my claim be settled if my death is because of accident or critical illness?

Will my claim be settled if my death is because of accident or critical illness?

Yes, however we recommend you to buy additional protection such as accidental death, critical illness, and a disability benefit to ensure maximum claim settlement.

What if I develop a smoking habit after buying the insurance plan?

What if I develop a smoking habit after buying the insurance plan?

We have a term policy of 40 years and since it’s a long time, a person may develop smoking or drinking habits during that time. We urge you to disclose this fact to us as this will reduce your chance of a claim being rejected at the time of maturity.

What happens to the policy if the company faces any unforeseen circumstances?

What happens to the policy if the company faces any unforeseen circumstances?

Life Insurance companies are governed by Solvency Laws by IRDAI that ensure a customer’s protection in case of any unforeseen circumstances.

Is death by natural calamity covered under term plan?

Is death by natural calamity covered under term plan?

Yes, death due to natural calamities are covered under this plan. Nominee should ensure that death related documentation are in place while raising claim.

What happens to the policy if the nominees are also deceased?

What happens to the policy if the nominees are also deceased?

The payment is made to legal heirs post obtaining necessary documentation.

Does the hazardous nature of my profession affect the policy? Or Can I avail the policy even if my job is hazardous in nature?

Does the hazardous nature of my profession affect the policy? Or Can I avail the policy even if my job is hazardous in nature?

Yes, the hazardous nature of your profession will affect the premium of a policy plan. You will have to disclose the nature of your job and risks involved. You can add more protection if required or you can buy a normal term plan.

Will there be any difference if I buy the same term plan from an aggregator site?

Will there be any difference if I buy the same term plan from an aggregator site?

No it will not make any difference if you buy the online term plan from an aggregator site.

Under what circumstances will my claim not be settled? Possible reasons for claim repudiation?

Under what circumstances will my claim not be settled? Possible reasons for claim repudiation?

A claim may be repudiated in case of non-disclosure at the time of application.

Once I have made the payment online and later if I am not eligible for the policy, by when can I expect a refund?

Once I have made the payment online and later if I am not eligible for the policy, by when can I expect a refund?

All refunds are processed within a reasonable time period.

What are the causes of death excluded under your Term Plan?

What are the causes of death excluded under your Term Plan?

In the event the Policyholder, or the Second Life (if the Joint Life Cover Option is chosen), commits suicide, whether sane or insane at that time, within one year from the Date of Inception of the Policy, the insurance cover for both the First Life and the Second Life shall be void. The Company shall pay 80% of the premium(s) received without interest.

In the event the Policyholder, or the Second Life (if the Joint Life Cover Option is choosen), commits suicide, whether sane or insane at that time, within one year from the date of revival of the Policy, the insurance cover for both the First Life and the Second Life shall be void. In such a case, the Company shall pay higher of the Surrender Value on the date of death or 80% of the premiums paid till the date of death, provided the policy is in-force.

Once I have bought the policy, will there be any changes in terms and conditions?

Once I have bought the policy, will there be any changes in terms and conditions?

The terms & conditions under which the online term plan was bought will remain consistent till the policy tenure.

Do I get receipts for ECS payment made? (Valid only if above question gets approved)

Do I get receipts for ECS payment made? (Valid only if above question gets approved)

Yes. Once the premium amount is realised from the respective bankers an official receipt will be sent to you.

Is there any survival benefit under this term insurance?

Is there any survival benefit under this term insurance?

This is a pure protection plan; there are no survival benefits under this plan.

What if I forget my policy number? How do I get it back?

What if I forget my policy number? How do I get it back?

Don’t worry just request for a call from our customer support. Our customer care number is 1800-425-6969

I am already ill. Can I take term insurance?

I am already ill. Can I take term insurance?

During the application stage you will be required to answer some health related questions to complete your application. Kindly disclose all information post which our underwriters will review your application & take decision accordingly.

Does the protection amount stay the same irrespective of my demise date?

Does the protection amount stay the same irrespective of my demise date?

Yes, once your policy starts you are entitled to entire claim settlement irrespective of your demise date within the coverage period.

What does lumpsum payment mean exactly?

What does lumpsum payment mean exactly?

Lumpsum is the full protection amount that is paid to a nominee at the time of the claim.

What does lifestage mean?

What does lifestage mean?

A married person with children should have higher life cover than a bachelor. Somebody with a home loan to pay off should have higher life cover. Also, consider the factor of inflation in paying premiums and coverage benefits.

What does joint-life benefit mean?

What does joint-life benefit mean?

Your spouse and you are partners for life. With simple documentation, you can cover your spouse in the same policy. Coverage for the second life shall be equal to 50% of the sum assured chosen by the policyholder subject to a maximum of Rs. 50 Lacs. This option needs to be chosen at the inception of the Policy. The option shall only be available where the sum assured of First Life is greater than equal to Rs. 50 lacs.

How joint-life benefit works?

How joint-life benefit works?

Under this benefit

In case of death of the First life the death sum assured in respect of the First life will be paid. The policy continues with future premium being waived. On the death of Second life (spouse) thereafter death sum assured in respect of Second Life is paid and the policy is terminated.

In case of Second Life (spouse) predeceasing the First Life, the death sum assured in respect of the Second Life is paid. The policy shall continue with the base premium.

If case of death of the both lives simultaneously the death sums assured in respect of both the First Life and the Second Life (spouse) will be paid and the policy is terminated.

Once the Joint Life Cover is chosen the policyholder cannot discontinue the coverage of the particular life, unless it is due to the events as mentioned above.

The option shall only be available where the sum assured of First Life greater than equal to Rs. 50 lacs.

Death sum assured for ‘Second life (spouse)’ is defined as higher of 10 times the additional premium or 105% of all additional premiums paid for Second Life cover as on the date of death of the second life or Sum Assured payable under this option.

How many nominees can I have?

How many nominees can I have?

Except payout option 4 (child benefit option), you can have multiple nominees for a single Mera Term plan. For child benefit option, you can have only 1 nominee (your child).

Can I change my nominee later in the plan?

Can I change my nominee later in the plan?

Yes, you can change your nominee at a later stage in your plan. Need to send the nominee details to our registered office with your policy number.

At what rate does the monthly payout in increasing monthly income option increase?

At what rate does the monthly payout in increasing monthly income option increase?

Monthly payout will increase @ 12% p.a.

Which payout option is best suited for me?

Which payout option is best suited for me?

If you have child with less than 15 year old, then we recommend Child Benefit option for you. Else, you can choose from any of other 3 options as per your need.

What happens to the payout if the beneficiary is deceased during the regular monthly payout option?

What happens to the payout if the beneficiary is deceased during the regular monthly payout option?

Payouts will continue to the legal heirs of the beneficiary.

Can I change the payout option once I have already bought the policy?

Can I change the payout option once I have already bought the policy?

No, you cannot change the payout option once your policy is issued.

Will the premium amount change based upon the payout option selected?

Will the premium amount change based upon the payout option selected?

The premium amount will remain unchanged irrespective of the plan you buy.

Can a partial encashment/withdrawal be made?

Can a partial encashment/withdrawal be made?

No, a partial encashment/withdrawal cannot be made during the duration of the term plan. The claim will only be settled upon the death of the insured person.

Does your plan cover death outside India?

Does your plan cover death outside India?

Yes, upon death of the insured outside India, the nominee has to provide the relevant documents to start the claim process & receive the settlement. There are certain riders (additional benefits) such as accidental death benefit, permanent disability rider and critical illness rider. By buying/adding these riders to the policy, a policyholder can ensure that his nominee will get an amount over and above the basic sum assured (due to any of the rider-related incidents).

What if I forget to nominate a person for the term plan? Can the family still claim the settlement?

What if I forget to nominate a person for the term plan? Can the family still claim the settlement?

Our online process asks for the nominee details at the time of application. This section is mandatory and needs to be filled by you or the registration will not be complete. Hence it is advisable to fill all the details carefully at the time of purchase.

What is coverage?

What is coverage?

The amount of protection that the person insured will receive basis policy terms.

What is a sum assured?

What is a sum assured?

Life cover that comes with the policy. This is the guaranteed fixed amount that is to be paid to the nominee.

What is a sum assured?

What is a sum assured?

These are set in a policy as to what will not fall under the insurance policy and hence will not provide benefits to the policy holder.

What is a grace period?

What is a grace period?

Policy holders are expected to pay the premium on a due date. However, a certain additional period is given to pay the premium without interest. This is called a grace period during which the protection cover of the policy continues.

What is insurable interest?

What is insurable interest?

This means that the insured or the beneficiary who receives the policy benefits, must suffer emotional or financial loss if unforeseeable events occur. Without insurable interest an insurance contract stands invalid.

What is a lapsed policy?

What is a lapsed policy?

A policy with non-payment of the due premiums beyond the grace period is known as a lapsed policy.

What is maturity date?

What is maturity date?

The date is when the term of the policy ends and the policy benefit amount is given to the policy holder.

What is a nomination?

What is a nomination?

This is when the policy holder or insurer officially authorizes another person to receive any monetary benefits from the policy.

What is a reinstatement?

What is a reinstatement?

Putting a lapsed policy back into force, within the revival period of 2 years, by paying all premiums due is called reinstatement. May require evidence of insurability and will require the insurer to pay the total overdue premium amount with interest.

What are riders?

What are riders?

Supplementary benefits added onto the primary life insurance policy purchased by the insurer. Additional covers offered to the insured with the main policy so that the insured can get more benefits under a single plan. Come at an additional cost which also increases the premium.

What is a surrender value?

What is a surrender value?

This is the amount that is to be paid to the insurer if he wishes to terminate the policy before its maturity.

What Our Customers Say

"PNB MetLife Products are made keeping safety and utility in mind making it very helpful to my family. "

Roohi KaushalPunjab

"My premium gets paid directly from the bank & I get a confirmation of it, making it a hassle free process."

"PNB MetLife Plan is beneficial to my family in case of an unfortunate event."

SatishHaryana

"The Insurance Policy is affordable and I would recommend it to everyone."

Parveen KumariPunjab

"The plan is reasonable making it easy for anyone to pay. "

Atul Kumar SinhaUttar Pradesh

"I was worried earlier since it was an international company, but now since its PNB MetLife, I have faith that the insurance policy will be a good one."

Suraj Singh KushwahDelhi

"PNB MetLife is a trust worthy company and we know our investments here are safe."

Devilal PatelRajasthan

"My claim process was quick & easy and I got my insurance policy in one day!"

Mr. Jasbir Singh SahiHaryana

"We had paid one year premium only and there was an unfortunate event in my family, I received the claim money without any hassle which enabled me to payoff my loans."

Mrs.Radha raniPunjab

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